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ADJUSTABLE RATE RIDER 88 (I Y..r T...-y lad..-R.'e Copo) - 105715 THIS ADJUSTABLE RATE RIDER is made ibis ....??.t~. day of .......Q.~~Ii.9.~.r........................, 19 ?~....., .nd is incorporated: into Bod shall be deemed to amend Ind ,upplcmcnl the MOUIBge, Deed or Trust or Security Deed (the "Security Instrument") of the ~mc dale ~Ycn by, t~ undcni8~ (.the "ro~owcr") to.secure Borrower's Adjust8blc ROle Nate (lhe "Note") to ........9.D'!.~.~.!.....~.r:!~...~~...r.~~.~~.l.....~.~).!m.~.......~.~.qS.1.~~.1.9.~.......................................... .............................................................................. (the "Lender") of the same dale and covering the property described in Ihe Security Instrument and located at '" .............D.?...?.H!)f.l.Y....9.r.!..y.~.,....9.p.!).i.p.n~.n.,...~~.~r.~.~.~~...~!!.?K................................................................................. (Propert)' AddrcuJ THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUST PAY. ADomO",,!"L COVENANTS. In addition to the covenants and agreements made in the Security Instrumcnl. Borrower and Lender further covenant and agree as (allows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides ror an initial interest rate of ..........~.':.??Jo. The Note provides for ch-anges in the interest rate and the monthly payments. as follows: ~. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A J ChaD.e Do... The inlerest ra.e I will pay may chan.e on th. first day of ......~~.~.~.!1!.~.~:........................ 19.!!.~.... and on thaI day every 12th mOnlh thereafter. Each date on which my interest rate could change is called a "Change Date." I B J The ladex Beginning with the first Change Date. my intcrest ratc will be based on an Index. The "Index" is the: weekly averagc yield on United States Treasury securities adjustcd to a constant maturity of 1 year. as made available by the Federal Rescrve Board. The most recent Index figure available as of the date 45 days before each Change Date is called Ihe "CurrenIJndex. ".. If the Index is no. longer available, the NOle Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of ' this choice. (C) ColculolloD of ChaIlJ" fffore each Chan.e Dale, lh. NOle Holder will calculate my new inler... rale by add in. .....IWI1...~!).g..Ii.l1~...... ..!El....f......................... percentase point. (g.:.?Q.........%) to th. Currcnllnde.. Th. NOle Hold.r willlhen round Ihe _result ofthiJ addition to Ihe nearest one~eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(0) below. this rounded amount will be my new interest rate until the ncxt Change Date. The Note Holder will then dctermine the amount of the monthly paymenl that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount or my monthly payment. I D I Umils oa 10.....1 Ro.e Chonl" The inlercst rate I am required to pay at the first Change Datc will not be grealer than ...lQ...g.~.............~ or less than .....Q.,.~.5..............%. Thereafter. my interest rate will ne\oer be incrcased or decreascd on Bny single Change Date by more than two pcr<;entagc points (2.0%) from the rale gf interest I have been paying for the preceding twelve month~. My interest rate will never be greater than .....J.~.~.g......%. ( E) ElI'ecll.. Dole of Chao... My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on Ihe first monthly payment date after the Change Date unlHthe amount of my monthly payment changes again. (F) Nollcc af CIIoo... The Note Holder will deliver or mail 10 me a notice of any changes in my interesl rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law 10 be given me and also the titJe and telephone number of a person who will answer any question ( may have rega!ding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenanl 17 of the Securi!y Instrument iSllmendcd to read as follows: Tralllferor. Propeny or - "Reiallaterest in BorrowH'. Irall or any ?art o(the Property or any inu:rcst in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) withoul lender's prior written consent. Lender may. at its option. require immediale paymenl in full of all sums secured by thi.Security Instrument. However, Ihis option shall no! be exercised by Lender if exerc:ise is prohibhed by federal law as of the date of this Security Instrument. lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by lender to evaluate the intended transferee as if a new loan were being made to rhe transferee: and (b) Lender reasonably dctll:rmincs that Lender's security will not be impaired by Ihe loan ISlumption and that the risk of a breach of any covenant or agreement in this Security Inslrumenl is acceplable 10 L.nder. ..The Index: figure available as or rhe dale (he initial inlcrcM rale WU!I dClcrruincd ror Ihis loun wu.~ .. ....~:.?~..... 0.'0. IllULTlSTlTE ADJUSTABlE RATE RIDER-ARM 5.2-S.r~ f.arruiy-Fann. ....,Fr.&:IJ. W.c UnlfDrm In&'rt.lm.nt Form3111JB5 IfC I~J'IilIlJ,/O(l'.''''<<liBI